Tex. Fin. Code § 32.006 · Subchapter A. ORGANIZATION AND POWERS IN GENERAL
ISSUANCE OF CERTIFICATE OF AUTHORITY.
Text — Current through the 89th 2nd Called Legislative Session, 2025
A state bank may not engage in the business of banking until it receives a certificate of authority from the banking commissioner. The banking commissioner may not deliver the certificate of authority until the bank has:
(1) received cash for the issuance of all authorized shares in the full amount subscribed;
(2) elected or qualified the initial officers and directors named in the application for charter or other officers and directors approved by the banking commissioner; and
(3) complied with all the other requirements of this subtitle relating to the organization of state banks.
Notes and commentary — not statutory text
History
Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.
Amended by:
Acts 2007, 80th Leg., R.S., Ch. 237 (H.B. 1962), Sec. 11, eff. September 1, 2007.
Source of truth
- Edition
- Current through the 89th 2nd Called Legislative Session, 2025
- Official file
- https://statutes.capitol.texas.gov/Docs/FI/htm/FI.32.htm
- Text hash
- sha256 4e4a40f56db24c834e8492fb47256e40a2fd24a3bf36abbbf5f55e4dab5768ff
- Composed by
- compose_tx.py 2026-10-05: the Legislative Council's chapter files read in document order; verify_tx.py's independent reading (lxml DOM walk) agrees character for character
Procedural information only. Not legal advice and not a substitute for the advice of an attorney. Confirm the current text with the official publisher before relying on it.